Bitcoin price drops significantly today, i.e June 9, 2021. Bitcoin is one of the major and most popular cryptocurrencies in the world. The price of Bitcoin tumbles 3.22 percent to a two-week low today.
At the time of writing the article, the price of largest cryptocurrency is set at 33,690.30 United States Dollar, which is a low-week low and investors are worried.
Bitcoin price drops: Check details
In the last few months, the price of Bitcoin peaked following the interest of popular names such as Tesla CEO Elon Musk in the cryptocurrency. Ever since Musk announced that his company will accept payments in Bitcoin, the price of the cryptocurrency peaked to $64,870 in April.
While it’s due to Musk and his regular tweets that Bitcoin value jumped in the last few months, it’s again due to Tesla CEO’s disinterest that the price of Bitcoin dropped significantly.
Last week, Musk tweeted about breaking up with Bitcoin, which was once his preferred cryptocurrency. The price tumbled after Musk said that this company will not accept payments in the form of Bitcoin due to “rapidly increasing use of fossil fuels for Bitcoin mining and transactions”.
As per coinmarketcap.com, Ether, which is the second-largest cryptocurrency in the world, also recorded a decline of around 5.82 percent to $2,446.88 as of Wednesday morning. Ipek Ozkardeskaya, senior analyst at Swissquote commented on the matter a per a report from Bloomberg, “The major price support stands at the $30K level, and a slide below this handle could run into stops and accelerate the sell-off in the short run.”
Dogecoin, which gained popularity due to Tesla CEO, has witnessed a turbulent year so far. Due to the rise in interest, Dogecoin price peaked from less than a dime in January 2021 to nearly 70 cents in May 2021.
